The first thing to consider with AISC is that it can vary...

The first thing to consider with AISC is that it can vary slightly between companies in terms of what is included.
Below is my preferred breakdown of AISC.

If you ask ChatGPT. It includes the following:
1. Direct Production Costs: These costs include expenses directly associated with the physical extraction and processing of ore, such as labor, energy, fuel, materials, and maintenance.
2.Sustaining Capital Expenditures: These are the capital costs necessary to maintain the current level of production and extend the mine's life. They include expenditures for equipment replacement, infrastructure maintenance, and other long-term investments.
3.Exploration and Evaluation Costs: These costs are related to the search for new mineral resources and the evaluation of their potential. They cover expenses for geological studies, drilling programs, and other exploration activities.
4. General and Administrative Expenses: These expenses encompass the overhead costs of running the mining company, including management salaries, legal fees, insurance, and corporate office expenses.
5.Reclamation and Closure Costs: These costs are associated with the environmental rehabilitation and closure of a mine once its operations cease. They include expenses for site remediation, land reclamation, and post-closure monitoring

So, it really comes down to the specific project and company. Even if C1 costs are comparable they can drift apart fairly quickly by their cost to process and by how sustaining capital is employed to keep things going and to extend the life of mine.